Highlights

  • Industry estimates put exposure of Indian investors to crypto assets at only 3 per cent
  • Crypto meltdown has taken the total market below USD 1 tn in just a year
  • RBI has been cautioning the public about such virtual currencies

Latest news

SEBI Expands UPSI Definition, Strengthens ESG and Governance Frameworks

SEBI Expands UPSI Definition, Strengthens ESG and Governance Frameworks

Gold Imports surge in November: Commerce Ministry examining data for any calculation error

Gold Imports surge in November: Commerce Ministry examining data for any calculation error

No provision of free travel for Prayagraj Maha Kumbh Mela: Railways

No provision of free travel for Prayagraj Maha Kumbh Mela: Railways

\'Mereko marwaoge\': Rohit Sharma's hilarious response to Pujara, Rahane 'retirement mistake' goes viral

\'Mereko marwaoge\': Rohit Sharma's hilarious response to Pujara, Rahane 'retirement mistake' goes viral

Trains movement hit in Punjab as farmers squat on tracks as part of Rail Roko protest

Trains movement hit in Punjab as farmers squat on tracks as part of Rail Roko protest

Karan Aujla delivers electrifying performance in Delhi-NCR

Karan Aujla delivers electrifying performance in Delhi-NCR

Russian oil spill contaminates 50km of Black Sea beaches

Russian oil spill contaminates 50km of Black Sea beaches

Two Monkeypox cases reported in Kerala

Two Monkeypox cases reported in Kerala

World is facing crypto meltdown; what about Indian investors?

According to the RBI, cryptocurrencies have specifically been developed to bypass the regulated financial system and this should be reason enough to treat them with caution

World is facing crypto meltdown; what about Indian investors?

While Cryptocurrency markets worldwide have been battered with billions of dollars being wiped out but India managed to stay relatively unscathed thanks to a cautious approach of the government and the RBI.

While the Reserve Bank of India (RBI) has refused to recognise cryptocurrencies and repeatedly issued warnings against trading in them, the government fired the tax bullet to wean off demand.

In India, the RBI has been resolutely opposing virtual currency from day one while the government initially was toying with the idea of regulating such instruments by bringing a law.

Industry estimates put exposure of Indian investors to crypto assets at only 3 per cent.

Industry experts said the high rate of tax and increased compliance requirement due to TDS has dampened investor mood and crypto exchanges have seen a decline in trade volume.

ADVERTISEMENT

Up Next

World is facing crypto meltdown; what about Indian investors?

World is facing crypto meltdown; what about Indian investors?

Gold Imports surge in November: Commerce Ministry examining data for any calculation error

Gold Imports surge in November: Commerce Ministry examining data for any calculation error

Indian Stock Market: Mixed Sectoral Performance Amid IPO Highlights

Indian Stock Market: Mixed Sectoral Performance Amid IPO Highlights

Parliamentary Panel bats for legal guarantee of MSP to protect farmers' interests

Parliamentary Panel bats for legal guarantee of MSP to protect farmers' interests

Bihar fully prepared to create robust business ecosystem, investment safe: Dy CM Samrat Choudhary

Bihar fully prepared to create robust business ecosystem, investment safe: Dy CM Samrat Choudhary

"If they tax us, we tax them...," Trump Signals Tough Trade Stance; Reciprocal Tariffs on India

"If they tax us, we tax them...," Trump Signals Tough Trade Stance; Reciprocal Tariffs on India

ADVERTISEMENT

editorji-whatsApp

More videos

Top 5 Losers of NIFTY 50: A Day of Decline for Leading Stocks

Top 5 Losers of NIFTY 50: A Day of Decline for Leading Stocks

India's renewable energy capacity addition doubled to 15 GW in Apr-Nov: Pralhad Joshi

India's renewable energy capacity addition doubled to 15 GW in Apr-Nov: Pralhad Joshi

 Indian Markets Open Lower Amid Caution Ahead of U.S. Federal Reserve Meeting

Indian Markets Open Lower Amid Caution Ahead of U.S. Federal Reserve Meeting

Five of top-10 most valued firms together add Rs 1.13 lakh Crore in market valuation

Five of top-10 most valued firms together add Rs 1.13 lakh Crore in market valuation

Airlines are price takers, they do not have influence on prices they pay: IATA Chief Economist

Airlines are price takers, they do not have influence on prices they pay: IATA Chief Economist

India’s import of Russian oil drops in November on shrinking discounts

India’s import of Russian oil drops in November on shrinking discounts

Auto Expo to see highest-ever participation of vehicle manufacturers: SIAM

Auto Expo to see highest-ever participation of vehicle manufacturers: SIAM

Russia Eases Travel Norms for India, Visa-Free Travel Expected by 2025

Russia Eases Travel Norms for India, Visa-Free Travel Expected by 2025

Bitcoin's Rally Continues: Surpasses $106,000 on News of Trump’s Bitcoin Reserve Fund

Bitcoin's Rally Continues: Surpasses $106,000 on News of Trump’s Bitcoin Reserve Fund

Get Ready for PAN 2.0: QR Codes, Paperless Processes & More!

Get Ready for PAN 2.0: QR Codes, Paperless Processes & More!

Editorji Technologies Pvt. Ltd. © 2022 All Rights Reserved.